Don't 99.9% of people know that banks can lend 10 times as much money as they own?
It seems to me that hardly anyone knows this.
(1 votes)
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Hey,
I probably belong to the 99% of the nd know, but where should the money come from if the banks of the nd time own? I mean, if you now have an apple stand with 10 apples, and a customer wants to have 100 apples, then that’s what you get out of it then you have your own debt….
Lg
Apples are physical, that’s the difference.
It also holds 115x more gold than exists.
That’s why banks are called legal criminals.
Aha, ok 😂 thanks for the info 🙂
The banks draw the money themselves. It’s just a balance sheet extension. The Bank holds a liability on its liabilities side on the customer’s current account and on its assets side a corresponding claim
Oke, luckily make my parents make me the bank, and I 😂😅 but thank you for the explanation 😊
I don’t think so. But why would they want to know? It’s just theorethical for most people.
This is being used in practice and is essential for financial education. Being aware of this is essential.
This shows that the whole financial system is rigged somewhere.
Most people just want a credit frame and that it works. Of course, basic knowledge about finance should be just as basic as basic knowledge about healthy nutrition or healthy lifestyle in general. But it is not taught at school. So most people don’t think it’s too important. And about the reason why it is not taught in schools, everyone can take their own thoughts.
Exactly. The whole thing is also led absurdly by the fact that the statement of our little smarts, the banks could give “10x as much money as they own” is also wrong.:-)
It’s just purely theorethical, but it’s not a matter that I’m hot. Basic knowledge about the history, function and various forms of money should be mM’s already compulsory education. Just like basic knowledge about garden/agriculture, food production, food preparation and a little regional-oriented botany and zoology.
If that’s missing, it’ll get out of what we have in new generations today.
😂😂 Can’t they? So. You would do financial education really well. Your polemic insults, please.
Yeah, that anyway.
Well, there is knowledge that is outdated and there is knowledge that is old but contemporary. Financial and nature topics are definitely part of it. And even craftsmanship, if we’re here before. It is not difficult to distinguish or adapt when it comes to drawing up curricula.
The problem is that knowledge from young years is now often overtaken and therefore useless. What makes it sense to remember how a cassette recorder works?
Right. But if you ask me, there’s more the will from above that you can sell stupid people. It ties to a loan, accumulates them freedom and created them harder than ever because they believe in financial freedom with ohrem 40 years of running immo credit.
But you agree to me that you know that you have learned in school in young years, but that you are more quantitatively hanging than reading it somewhere on the Internet.
Even if individual concrete information such as these are not directly relevant to practice, it would remain to significantly more people if knowledge about money would be linked to everyday practice.
In addition, it is also important to know that the brain can process and assign information significantly faster if the superordinate theme is already present as a basis.
For example, it is also easier for the brain to learn a third and fourth language if one masters two to three languages perfectly, because the brain then relies on the already existing patterns and information and simply reconnects them.
Or other example: I’ve never dealt with bicycle repairs. But, of course, I learned to ride a bike and also had tools in my hand. That’s why a bicycle repair would not be a problem for me.
So things as early as possible, as practical as possible and also as fun as possible, make a huge difference.
It is.
But since it is irrelevant to the majority of the population that the bank does not give its own but the money of the customers, this mediated knowledge is classified and forgotten as irrelevant.
I also learned how a linear motor works. Don’t need to know anymore. I don’t know about that.
Yes, but the extent of mental loss has already increased drastically and will continue. This general development would be counteracted if one were to get some intellectual education, which also has a practical and everyday benefit, because then more people would first learn to use their brains and gather knowledge, is actually fun.
If people still learn that despite school, this is more about other circumstances in life or home. Or maybe you just had a good teacher.
But also something exaggerated. This concerns every generation. I am GenZ myself and there are these clientele in each age group.
Exactly. Proven clientele would say: Schwurbler!
Most do not even know that there is no central bank money in their bank account.
That’s exactly what I said, just in green. 90% of the money is money. What makes sense, because it is awarded 10x more than is possessed.
And that digital numbers are not a legal means of payment but only coins and banknotes. And what this can have in doubt for consequences.
One could even drive it further, because strictly speaking, coins are only limited by legal means of payment and no central bank money. However, these conceptual differences do not play a major role in practice.
Well, it might be quite an entry level in general education that banks’ money transactions are crucial to giving money that they have only borrowed.
The fact that only 0.1% of people should have such a basic general knowledge is damn unrealistic. That would be less people than working directly in finance…
Small criminals rob banks, large criminals run banks;)
I wouldn’t say that. Many do not know that. It is terrifying and unimaginable, but most of them, even in the financial sector, have no idea how money actually works.
Well said.
That may be the case. But not when it comes to the general understanding of money. Very few know that.
Yeah.
But maybe you should think again about what 99.9 % are. These are 999 out of 1000! You said 1 out of 1000 people knows what banks do. So… “They are complete freaks, one of which meets you every couple of years”.
And it should also be quite obvious for a person with rather little vision that this goes far, far past reality. There are clearly more than one of 1000 people working with finance.
But you don’t seem to know how money actually works.
What does this have to do with academics?
It’s all the same to me. You can think what you want. I see it every day.
Well, then I’m excited to hear where you’re taking this security.
Sorry that the academy comes out in me, but I see the world so that someone who wants his claims not to be rejected as a pure fantasy must prove them at the latest on demand.
Or stop accepting that it is turned off as a fantasy.
Do you have proof?
Yeah, I’m with you. However, when it comes to how money really works, it is 99.9%. I’m pretty sure. Because hardly one – even in finance – knows that. Unimaginable, I know. That’s it.
This never really meant how money works. So where are you taking this? Besides, you don’t have the necessary expertise to evaluate it.